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News
Greenspan, Bernanke and Yellen urge Supreme Court to let Lisa Cook keep her job as a Fed governor
11+ mon, 2+ week ago (378+ words) Alan Greenspan, Ben Bernanke, Janet Yellen and other former top economic officials appointed by presidents of both parties urged the Supreme Court on Thursday to preserve the Federal Reserve's political independence and allow Lisa Cook to remain as a central…...
Who is Kevin Warsh, Trump's Federal Reserve chair nominee?
7+ mon, 1+ week ago (363+ words) President Donald Trump said Friday he will nominate Kevin Warsh to be the next chair of the Federal Reserve after Jerome Powell's term ends in May. Warsh, 55, was a member of the Fed's board from 2006 to 2011. He was the youngest…...
Behind the beef prices: Piedmont butcher says local meat market is growing despite rising costs
1+ mon, 4+ week ago (561+ words) One local couple is paying more for packaging materials for their meat products due to supply chain disruptions caused by the ongoing conflict in the Middle East. Americans continue to feel the squeeze of high grocery costs. According to the…...
Warren Buffett's Berkshire Hathaway to pay $9.7 billion for Occidental Petroleum's OxyChem
11+ mon, 1+ week ago (305+ words) Warren Buffett announced his biggest deal in years Thursday with Berkshire Hathaway's $9.7 billion acquisition of Occidental Petroleum's chemical division. The deal for OxyChem could be Buffett's last big deal before he hands over the CEO title to Vice Chairman Greg…...
The Fed faces economic uncertainty and political pressure as it decides whether to cut rates
11+ mon, 3+ week ago (896+ words) ,In a sign of how unusual this week's Federal Reserve meeting is, the decision it will make on interest rates — usually the main event — is just one of the key unknowns to be resolved when officials gather Tuesday and Wednesday....
Graph shows road to record high diesel prices during Iran War
1+ week, 1+ day ago (104+ words) Diesel prices have hit a new record high in the U.S. as the ongoing war in Iran continues to strain global energy sources. On Friday, diesel prices hit $5.85 per gallon, according to AAA data. Previously, the record high was $5.82 per gallon…...
Trump administration narrows list of potential Federal Reserve chairs to 5
10+ mon, 2+ week ago (775+ words) Treasury Secretary Scott Bessent on Monday confirmed the names of five candidates to replace Jerome Powell as chair of the powerful Federal Reserve next year. On an Air Force One flight to Asia with President Donald Trump, Bessent said he…...
Powell plans to remain on Fed board, cites legal actions by Trump administration
4+ mon, 1+ week ago (830+ words) Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month "for a period of time, to be determined," saying the "unprecedented" legal attacks by the Trump administration…...
Justice Department investigating meat packers amid record-high beef prices
4+ mon, 1+ week ago (530+ words) Experts say low cattle inventory and high demand are driving rising prices. The U.S. Department of Justice is investigating major meatpacking companies for anti-competitive practices as Americans are dealing with record-high beef prices, but experts say other factors are driving the…...
Fed Chair Jerome Powell finishes his term | Here are takeaways from his legacy
3+ mon, 4+ week ago (1145+ words) When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs. Now, as Powell steps down from the post…...